SHA:603768 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-204.33	-205.13	68.16	131.63	96.45	59.41
Depreciation & Amortization	338.46	338.46	265.51	236.58	200.59	181.89
Other Amortization	39.72	39.72	31.63	35.79	36.12	34.74
Loss (Gain) From Sale of Assets	-1.2	-1.2	5.44	-0.27	0.09	0.53
Asset Writedown & Restructuring Costs	140.93	140.93	1.84	2.8	17.18	-0.26
Loss (Gain) From Sale of Investments	2.14	2.14	3.69	-16.92	1.8	1.45
Provision & Write-off of Bad Debts	-	-	43.06	9.01	9.82	10.54
Other Operating Activities	233.07	125.1	151.54	81.18	84.2	85.43
Change in Accounts Receivable	-213.33	-213.33	-222.76	-325.4	-272.63	-111.06
Change in Inventory	-125.85	-125.85	-173.84	-4.25	-93.06	-8.06
Change in Accounts Payable	-257.45	-257.45	-150.84	-187.08	-200.29	-266.02
Operating Cash Flow	-72	-180.78	-3.17	-28.6	-122.38	-21.34
Capital Expenditures	-114.65	-140.85	-261.66	-371.48	-197.24	-286.37
Sale of Property, Plant & Equipment	20.44	20.26	1.72	0.13	0.16	0.6
Investment in Securities	-90.8	-70.4	-	-	-	-
Other Investing Activities	0.33	0.15	0.81	0.87	1.61	-
Investing Cash Flow	-184.68	-190.84	-259.13	-370.48	-195.46	-285.77
Long-Term Debt Issued	-	1,467	1,495	1,465	1,244	1,031
Total Debt Issued	1,809	1,467	1,495	1,465	1,244	1,031
Long-Term Debt Repaid	-	-1,314	-1,215	-943.23	-942.11	-888.82
Total Debt Repaid	-1,443	-1,314	-1,215	-943.23	-942.11	-888.82
Net Debt Issued (Repaid)	366.74	153.99	280.32	521.28	301.47	142.27
Issuance of Common Stock	-	-	393	-	-	-
Common Dividends Paid	-71.57	-68.11	-84.59	-75.18	-60.35	-65.74
Other Financing Activities	-37.05	-33.73	-2.34	-4	-1.42	-1.31
Financing Cash Flow	258.12	52.14	586.39	442.09	239.7	75.21
Net Cash Flow	1.44	-319.48	324.09	43.02	-78.14	-231.89
Free Cash Flow	-186.65	-321.62	-264.83	-400.07	-319.61	-307.7
Free Cash Flow Margin	-5.14%	-9.12%	-7.77%	-12.31%	-10.10%	-10.23%
Free Cash Flow Per Share	-0.76	-1.35	-1.17	-1.98	-1.56	-1.50
Cash Income Tax Paid	101.38	92.86	112.42	93.24	19.72	93.25
Levered Free Cash Flow	656.22	402.49	163.25	24.52	70.41	-97.83
Unlevered Free Cash Flow	656.22	402.49	200.86	57.76	101.61	-70.57
Change in Working Capital	-620.79	-620.79	-574.03	-508.4	-568.63	-395.06

Source: S&P Global Market Intelligence. Standard template. Financial Sources.